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Gilets, Coldplay...oh and we discussed Venture Capital!
As ever, I really enjoyed the opportunity to speak with Richard Dean on Dubai Eye 103.8 about MAGNiTT’s Year End report! Always a great way to kick start report season and my morning.
Some of the things we spoke about (beyond my sartorial choice):
🌟 Investor Confidence Grows: The number of active investors in MENA increased by 20%, signaling strong optimism for 2025.
🇸🇦 KSA Leads the Way: Despite a 44% YoY dip in funding, Saudi Arabia remains a top VC destination in MENA.
📊 Deals on the Rise: Deal flow grew by 7%, underscoring the resilience and vibrancy of the ecosystem.
🏢 Corporates to lead the way. HSBC's new Open Economy initiatives for the region and e& capital's pivotal role in late stage investment
Great to see the positive momentum heading into 2024, despite continued macroeconomic challenges. Get your copy here: https://lnkd.in/dVQ7NADh
Thanks team for the Cold Play song dedication and Tom Urquhart let's lead the Gilet revolution in Dubai 💪 🦺
#MAGNiTT#DubaiEye#MENAStartups#VentureCapital#Innovation
Let's talk about funding, or rather the lack of it in the region. Delighted to be joined in the studio by Philip Baoshi, the founder of Magnet, the research company. Morning, Phil, good morning. Thank you for having me. Your latest report is out and it doesn't make for great reading. Decline of almost 30% of fundraising for tech companies in the Middle East last year. What's the story? So I want to challenge that to a certain extent, but I'll come on to exactly why. I mean, it's always good to put some context. So globally, we've seen since the peaks of 2021 and 22 declining venture capital. Investments and the anomaly was the low interest rate environments that really accelerated the investments back in 21 and 22. Since then we've had macroeconomic challenges. You've been speaking to many that still exist in the the wider economy and the hardest hit segment of venture capital investment has been late stage investments, those big investment rounds of 5100 and 150 million. In fact we saw 66% drop in mega deal investments. The positives from the report though. That we've actually seen more transactions year on year, up 7%. We've seen more investors coming to the region than we have historically and we've seen more international investors coming to the region. The segment that's really been a focus, our investment deals between 1 and 5 million, which basically sees 50% of all transactions. That cedes the investment landscape for the next couple of years. So while the headline figure, yes, is somewhat alarming, the underlying data shows that we're at least plateauing and beginning to see. The signs of recovery coming in the next couple of years. Well, one of those smaller relatively ticket deals was announced within the past few days and that was Callow, the Bahraini healthy food company. Bahraini entrepreneur launched it. But big presence in Saudi Arabia, big presence here in the UAE and $25 million is what they raised. Let's just remind ourselves what these guys had to say. We we spoke to them few days ago actually Ahmed Al Rawi, the founder. You want to put the headphones on, Phillip, I think the next year, big headphones there. Then you can hear him. This is Ahmed Al Rawi, founder of Carlo, speaking to us on the 3rd of January about their fundraising. The money's for a couple of things. Mainly it's strengthening our position as the leader of the meal subscription segment or market in the region and offering more personalization through AI and through improving the product here and there. It's also for the second thing is for product expansion as we're entering into new segments of of different product lines. So for context, 98% of our revenue has been from me. Subscriptions, but there are a couple of other ways to make healthy easy like retailer on demand delivery and we're planning to enter into that. And last but not least, hopefully something geographic expansion. We're about to announce a an acquisition of a UK based company in Q1 as it marks our entry into the European market. So a good start to the year for venture capital investing in the Middle East, $25 million on day three. What was the industry reaction to that deal? I think that's exactly what we're beginning to see those companies that have been built in the last two to three years. Let's put it in the context. One of the biggest challenges of the region is exits and liquidity. We haven't seen more than about 7% of all companies that have raised funds see exits. But a typical exit window, whether that comes from M&A or IPO's takes about six to seven years to come to fruition. Therefore, investments in companies that have been set up specifically in the last one to two years are likely to have a longer term payoff when the macroeconomic environment improves and we might see. A return of the funding days gone past, but it was very interesting to hear Ahmed talk about what the use of funds were. One of them is AI and I was listening to you before I got here. That's definitely an area of focus specifically here in the region and we're catching up as was said, to what's been happening in the US And the second one was very interesting was around M&A. Right now, the M and A market is ripe for opportunities of consolidation, whether that's regionally or internationally. And that's something that we expect to see a lot of use of funds will be being put to work. In the next couple of months, so small, small startups buying other small startups or medium sized startups or international companies now looking to get presents here in the region or corporates which have always been a big player for M&A activity looking to consolidate within their space. So that really is something that we predict this year will be seeing more of. And we saw a Mashrek deal, didn't we just a couple of days ago actually in in fintech and we've been trying to get hold of the guys from Mash record about it and it. It's a complex deal, but it's Mashrek involved in fintech. Is that the large corporate essentially, yeah. Does that fit with that narrative? Absolutely. I mean a good example of that is Ian. So E and have had two both on balance sheet IE coming directly from Iran that invested in for instance, Kareem last year. And you have EN capital which is a venture capital entity or corporate venture capital fund which invests directly into businesses that meets the goals of Iran. So we will begin to see more and more of that activity in fact. Sponsor of our report is HSBC. They are beginning to build out their new innovation banking proposition here in the region because they want to support the fintech space and the wider economy. So we're beginning to see more active investment from banks and corporates playing in this space. Where are the hotspots at the moment? UAE and Saudi Arabia have traditionally dominated. Jordans had a good run in the past. Egypt, always a source of just by its size, always a source of deals offered. Bahraini. Which is we do fewer calls with Bahraini tech entrepreneurs that perhaps we should. Where are the hotspots? It's a great question. Unfortunately, given the macroeconomic and difficulties that we've seen in the region, that real hub of venture capital investment has come from the UAE and Saudi Arabia, which have really doubled down on venture and startups as an opportunity. One spot is utter Qatar, which launched their big fund of fund initiative last year has actually seen year on year growth and will be bringing out a report on that opportunity as well attracting international and. Regional companies to Qatar, but the reality is that the GC has been in terms of venture investment, the key driver. But that doesn't mean that there hasn't been great companies coming out of Egypt and the Levant. But what's being happened, what's happening now is that they're getting attracted to the GCC and what you see is headquarter in the GCC and back office back in their home locations. And that kind of trend is beginning to develop. You talked about exit, talk about IPO happened at 160 the with the launch price yesterday. Was at 164. So you'd say that's been a success. Quick take on the the way the industry is reacting to that cause that was a mega exit. I think it was a very important to see that there is a road towards an exit here in the region. A term that I keep hearing is that many later stage companies that raise 50 to $100 million are becoming IPO ready and they're going through the due diligence process to potentially list and they may get funding along the way. I expect this year we're likely to see four to five tech IPO's specifically. Saudi Arabia and the UAE as they begin to see that window opening, as we will see in the US as well. Finally, Phillip, before we let you go, tonight is the first night of the Coldplay. Can we call it a residency in Abu Dhabi? Are you going? Have you got tickets? I will be going on Tuesday, next Tuesday. Very nice. It's described as the record setting for music sales for for UAE concert. So what we're doing today for all our interviews is picking a song that we think is relevant to them from Coldplay. Producer Jordan and producer Isa have come up with this one for you. Nobody said it was easy. Ohh, it's such a shame for us to push that is the scientist by Coldplay and maybe in honour of your social science expertise, bachelor in economics of London School of Economics, MBA from INSEAD Business School Uri social scientist today. Phillip, good to see you and usually age. Thank you. Lovely day warm and Phillip there the founder of magnet. Down 3.8 FM you can watch us live on Dubai One TV.
🎥 It was a pleasure joining the amazing Lara Habib on الأسواق العربية - Al Arabiya Business to share insights from MAGNiTT’s latest report on the VC ecosystem in Saudi Arabia 🇸🇦.
𝗘𝘃𝗲𝗿𝘆 𝘁𝗶𝗺𝗲 𝗜 𝗹𝗼𝗼𝗸 𝗮𝘁 𝘁𝗵𝗲 𝗱𝗮𝘁𝗮, 𝗜’𝗺 𝗿𝗲𝗺𝗶𝗻𝗱𝗲𝗱 𝗼𝗳 𝗵𝗼𝘄 𝗳𝗮𝘀𝘁 𝘁𝗵𝗲 𝗞𝗶𝗻𝗴𝗱𝗼𝗺’𝘀 𝘀𝘁𝗮𝗿𝘁𝘂𝗽 𝘀𝗰𝗲𝗻𝗲 𝗶𝘀 𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴, from 🌐 diversification across industries to 🚀 a rise in international investors and 💰 record levels of funding that reflect the ambitions of Vision 2030.
Our conversation comes in line with the Private Credit Forum in Saudi Arabia and ahead of FII, as we continue to see growing alignment between venture capital, private credit, and institutional funding shaping the next phase of growth.
📊 𝗜𝗳 𝘆𝗼𝘂’𝗱 𝗹𝗶𝗸𝗲 𝘁𝗼 𝗱𝗶𝘃𝗲 𝗱𝗲𝗲𝗽𝗲𝗿 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲 𝗻𝘂𝗺𝗯𝗲𝗿𝘀 𝗮𝗻𝗱 𝘁𝗿𝗲𝗻𝗱𝘀 𝗱𝗿𝗶𝘃𝗶𝗻𝗴 𝘁𝗵𝗶𝘀 𝗺𝗼𝗺𝗲𝗻𝘁𝘂𝗺
👉 Download MAGNiTT's Q3 2025 KSA Venture Capital Report: https://lnkd.in/dmugm8WS#SaudiArabia#VentureCapital#MAGNiTT#PrivateCreditForum#FII#MENAStartups#Innovation#Investment#Vision2030
Khalifa Al Hajeri has been appointed Chief Executive Officer of the Emirates Growth Fund (EGF), a landmark move for the UAE’s AED 1 billion growth equity platform dedicated to scaling the nation’s SMEs and driving long-term economic resilience.
With more than 15 years of global investment experience at Mubadala, where he led growth investments, sovereign partnerships and venture capital initiatives, H.E. Al Hajeri brings deep expertise in identifying and nurturing scalable businesses across technology, industry, and advanced sectors.
His appointment underscores EGF’s mission to be a catalyst for sustainable growth, supporting founders and scale stage enterprises in building enduring national champions. Backed by Emirates Development Bank (EDB), the Fund plays a vital role in advancing Operation 300bn and reinforcing the UAE’s position as a global hub for innovation and entrepreneurship.
Under H.E. Al Hajeri’s leadership, EGF is set to accelerate its next phase, empowering UAE SMEs with patient capital, strategic guidance, and value-creation partnerships that drive competitiveness, innovation, and economic diversification.
#Leadership#Investment#VentureCapital#PrivateEquity#UAE#SMEs#EconomicGrowth#Mubadala#EGF#Entrepreneurship#cxolanes
The Q3 2025 KSA Venture Capital Report reveals a record-breaking $1.3B in funding across 173 deals, reflecting a 158% YoY increase in funding and 38% increase in deal count, marking the strongest nine-month performance on record.
FinTech continues to perform strongly with $441M raised, while gaming and travel tech are emerging as new growth sectors, reflecting the diversification of Saudi Arabia’s innovation economy.
Meanwhile, MEGA deals also staged a comeback, with the likes of Ninja 🥷🏽 نينجا, Tabby | تابي, and Hala recording $100M+ deals.
As the ecosystem matures, these insights set the stage for key discussions at the Private Capital Forum in Riyadh, where investors and policymakers will explore the next chapter of private capital in the region.
The MAGNiTT team will be at the event, so stop by and say hello to explore our latest reports and data-driven insights!
Download the full report here: https://lnkd.in/db_fhuZJ#MAGNiTT#KSA#VentureCapital#PrivateCapital#MENA
💸 The MENA Funding Boom: $3.5 Billion Raised — But How Much Will Survive?
🚀 Startups across the MENA region raised a staggering $3.5 billion last month alone.26 of them were based in the UAE — collectively securing $704 million. It’s incredible growth.
But here’s the part no one wants to talk about 👇
Raising capital isn’t the same as managing it.
And most founders discover that post-funding discipline matters more than the funding itself.
💬 We’ve seen it first-hand.
A startup we worked with closed a seven-figure round — but burned through 40% in six months.
Why? No cashflow forecast. No spend structure. No clarity.
We rebuilt their financial model, set milestone-linked budgets, and extended their runway from 4 months to 11.
The truth is simple:
💡 Money doesn’t solve problems. It amplifies them.
If your numbers lack strategy, your funding becomes a countdown.
📊 At Aiko Global, we help founders turn capital into control — with forecasting, structure, and investor-ready discipline.
📩 Comment “clarity” and we’ll send you our Post-Funding Financial Framework — built for the MENA founders who want to scale, not stumble.
#aikoglobal#dubai#uaebusiness#menastartups#fundingnews#financialclarity#investorreadiness#startupconsulting#businessgrowth#cashflowstrategy#sustainablegrowth
🇸🇦 𝗦𝗮𝘂𝗱𝗶 𝗔𝗿𝗮𝗯𝗶𝗮 𝗠𝗼𝘀𝘁 𝗔𝗰𝘁𝗶𝘃𝗲 𝗠𝗘𝗡𝗔 𝗠𝗮𝗿𝗸𝗲𝘁 𝗶𝗻 𝗗𝗲𝗮𝗹𝘀 𝗶𝗻 𝟵𝗠'𝟮𝟬𝟮𝟱
Momentum continues to build across Saudi Arabia’s startup ecosystem.
In just the first nine months of 2025, the Kingdom ranked first among its MENA peers in deal activity, marking a significant milestone.
📈 Deal activity rose by 38% compared to last year's nine-month period
🌍 Together, Saudi Arabia and the UAE accounted for 72% of MENA’s total deals, highlighting the two markets’ combined dominance in shaping the region’s investment landscape.
This growth reflects the continued confidence of investors in the Kingdom’s Vision 2030-driven diversification strategy, supportive regulatory reforms, and an increasingly founder-centric environment that fosters innovation at every stage.
But what’s really driving this growth beneath the headline numbers?
MAGNiTT's 𝗤𝟯’𝟮𝟱 𝗞𝗦𝗔 𝗩𝗲𝗻𝘁𝘂𝗿𝗲 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗥𝗲𝗽𝗼𝗿𝘁 breaks down the data, from sector-level performance and deal stage distribution to emerging investor trends and market outlooks shaping what’s next for the ecosystem.
🔗 Explore the full insights and download the report here: https://lnkd.in/dmugm8WS#MAGNiTT#KSA#VentureCapital#StartupEcosystem#InvestmentInsights#DataDriven#Vision2030#Entrepreneurship
Partnered
Private Capital Rising: Why Global Investors Are Betting on Dubai
As private markets evolve from niche allocations to the new mainstream, investors are redrawing their global maps, and Dubai sits firmly at the center.
What began as a financial hub is now a full-spectrum ecosystem for private wealth, venture innovation, and institutional capital. From family offices navigating generational transitions to global funds expanding regional footprints, Dubai offers an unmatched blend of access, regulation, and opportunity.
Whether it’s FinTech, HealthTech, logistics, green manufacturing, or education, the city’s D33 vision is translating ambition into investable reality backed by record FDI inflows, progressive frameworks, and a thriving startup culture.
In a world searching for new growth frontiers, Dubai isn’t just participating in the private capital story; it’s writing the next chapter.
Explore the full report: https://lnkd.in/dYUqRSM3#PrivateMarkets#FamilyOffices#Dubai#WealthManagement#FDI#VentureCapital#PrivateEquity#D33Agenda#GlobalInvestors#VCCircleBusiness Dubai
He skipped a $400 lunch. It cost him $4M in valuation.
Three years ago, a European founder told me:
“𝐈 𝐝𝐨𝐧’𝐭 𝐧𝐞𝐞𝐝 𝐃𝐮𝐛𝐚𝐢. 𝐌𝐲 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐢𝐬 𝐝𝐢𝐠𝐢𝐭𝐚𝐥.”
Last month, he called me back:
“𝐈 𝐬𝐡𝐨𝐮𝐥𝐝 𝐡𝐚𝐯𝐞 𝐥𝐢𝐬𝐭𝐞𝐧𝐞𝐝.”
Here’s what happened in between 👇
His competitor with half the product entered the GCC early.
He built the right relationships, partnered with regional players, and got into the right rooms.
Result?
💰 Raised $15M at 3x the valuation my European friend was chasing.
Same industry. Same timing.
Different geography strategy.
The difference wasn’t innovation.
It was understanding where the capital actually flows.
Most Western founders think Dubai is “nice to have.”
Ultra-wealthy founders know it’s critical to have.
After facilitating cross-border deals between Europe, Africa, and the GCC, here’s what I’ve learned:
→ GCC family offices move faster than Western VCs
→ They write bigger checks with fewer conditions
→ They open doors across three continents
→ They think in decades, not quarters
But they invest in relationships first, opportunities second.
That $400 lunch my friend skipped?
It was with someone whose family office deployed $200M+ in the last 18 months.
The $4M opportunity cost?
That’s the valuation gap between him and his competitor.
You can build the best product in Europe, but if the capital lives in the Gulf,
and you’re not building those bridges, you’re leaving eight figures on the table.
🚀 𝐑𝐞𝐚𝐝𝐲 𝐭𝐨 𝐞𝐱𝐩𝐚𝐧𝐝 𝐨𝐫 𝐫𝐚𝐢𝐬𝐞 𝐜𝐚𝐩𝐢𝐭𝐚𝐥 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐂𝐂?
📞 Book your private strategy session → https://lnkd.in/dr5E4_Qj
🎓 𝐖𝐚𝐧𝐭 𝐭𝐨 𝐥𝐞𝐚𝐫𝐧 𝐡𝐨𝐰 𝐭𝐨 𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 𝐲𝐨𝐮𝐫 𝐫𝐚𝐢𝐬𝐞?
Join the next Dealmaking Masterclass and get investor-ready: https://luma.com/k39q2hvm
🎙️ 𝐂𝐥𝐨𝐬𝐞𝐝 𝐚 𝐦𝐢𝐥𝐥𝐢𝐨𝐧-𝐝𝐨𝐥𝐥𝐚𝐫 𝐝𝐞𝐚𝐥?
Apply to share your story on The Dealmaker Show: https://lnkd.in/d_syXyjt#DubaiTechTuesday#dealmaking#GCCExpansion#CrossBorderVC#StartupFunding#MENA#VentureCapital#Dubai#Investment#vc#dubaivc#vcindubai#dubaiventurecapital#nessrinehertelli#nessdealmaker#thedealmakershow#dealmakershow#dubaitrends#gcc#gccgrowth
Sharjah put founders on stage and investors said yes
Sharjah’s Seal the Deal 2025 connected nine early-stage ventures with major investors during SIF and WAIPA WIC, securing over AED 4 million in commitments.
Read more: https://lnkd.in/dKncH-xJ
Startups in the Middle East and North Africa recorded investments and acquisitions totaling $55.1 billion during the first week of October 2025, across 8 major deals — including the largest debt-financed acquisition in Wall Street history.
📌 Saudi Arabia dominated the landscape, while the UAE maintained its momentum in emerging technologies, and Egypt and the UK emerged strongly in climate and sustainability sectors.
📌 The gaming and climate tech sectors led the way, driven by Saudi Arabia’s historic acquisition of EA and notable advancements in sustainability initiatives.
🔗: https://lnkd.in/eMJ4gVDj
Proud to see the launch of the Emirati Accelerator Program 2025 — a strategic collaboration between Dubai SME and Plug and Play to empower the next generation of Emirati founders.
The program will be offered through Dubai Founders HQ — our dedicated platform to scale ventures and offer a range of services to support startups on their growth journey.
This program is designed to turn ambition into impact — providing founders with the mentorship, capital access, and global exposure needed to build scalable ventures from the UAE to the world.
This is more than an accelerator. It’s a platform to shape the future of our innovation economy.
#DubaiSME#DubaiFounders#EmiratiAccelerator#D33#Innovation#EmiratiEntrepreneurs#StartupJourney#BuildTheFuture
🚀 The next wave of Emirati founders starts here.
We’re thrilled to launch the Emirati Accelerator Program 2025 — a platform designed to unlock the full potential of Emirati-led innovation across every industry.
Whether you’re building the next fintech disruptor, sustainable food brand, or creative tech venture — this program is here to help you go further, faster.
👥 Work with global mentors & experts
📈 Validate your business model
💡 Gain access to funding, exposure & growth opportunities
🌍 Scale from the UAE — for the world
This is your stage.
Your idea.
Your future.
🎯 Applications are now open — Apply here! https://lnkd.in/dHezEYx9#EmiratiAccelerator#UAEFounders#MadeInUAE#EmiratiEntrepreneurs#StartupJourney#InnovationFromTheUAE#BuildTheFuture
MAGNiTT branded gilets soon? 👀